Use our Savings Tracker to make your cost reduction or performance improvement project easier to control.
At some point, almost all businesses will embark on a cost reduction and/or performance improvement project. Some companies even run these exercises on an ongoing basis, so there is continual financial and performance improvement.
There is not much point, though, of running these initiatives if their effects can’t be easily, accurately, and comprehensively tracked. Attempting to record and report progress figures manually can be so time-consuming that it slows the project down, and there is always the risk of errors being introduced during the recording process, or along the reporting and decision making chain.
The Savings Tracker option within our Virtuosi Analytics technology platform provides an easy-to-use solution that delivers fast, accurate results. The Savings Tracker can be used to track and report on the savings being achieved or performance being improved at each stage of the program. A baseline plan for the project can be created in the software, and then accurate records kept as the project progresses regarding each initiative or task, where it is currently at, and what savings or performance gains have already been achieved.
Savings tracking and gains can be logged and reported as they happen, in the form of neat visuals and predetermined key performance indicators (KPI). These visualization and statistical tools built into the Savings Tracker clearly indicate which initiatives are doing well and which ones are at risk of failure.
Using the Savings Tracker option on the Virtuosi system allows you to remain in total control of the cost reduction or performance improvement project at each step of the way.
At Simfoni, we are a leading provider of analytics and enterprise apps (and associated support services) for businesses. Contact us now to find out how we can help make your business more efficient and cost-effective.